The good ones are gearless. If you can so much as twitch the handle, you can get a fastener loose with them. I have one at home like this.
Think of a hi-lok as a countersunk screw, but with no drive in the head. There's a female hex in the threaded end. You put the "nut" (hi-lok collar) on it, put your ratchet/socket on, then put an allen wrench through that hole into the end of the hi-lok, and tighten.
The collar has a ring cut into it, so the part the socket drives snaps off at a preset torque, leaving a perfectly round "nut" on the fastener.
Technically, if the hi-lok fits right, the allen wrench should never be needed in the first place, but that's another story...